NYSE · Financial Services

MetLife, Inc.

MET · Insurance - Life

$85.58

▼ -0.27 (-0.31%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

F⤢

Net Income Margin 6.4%

Fin. Health

F⤢

Years to Pay Off Debt 17.8 yrs

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 2.02x

Cash Flow

A⤢

Free Cash Flow $2.7B

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About MetLife, Inc.

MetLife, Inc., a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates in six segments: Group Benefits; Retirement and Income Solutions; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, paid family and medical leave, individual disability, accidental death and dismemberment, accident and health, vision, and pet insurance, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements. It also provides pension risk transfers, institutional income annuities, structured settlements, and capital markets investment products; and other products and services, such as life insurance products and funding agreements for funding postretirement benefits, as well as company, bank, or trust-owned life insurance used to finance nonqualified benefit programs for executives. In addition, it offers fixed, indexed-linked, and variable annuities; pension products; regular savings products; whole and term life, endowments, universal and variable life, and group life products; longevity and funded reinsurance solutions; credit insurance products; accident & health products covering hospitalization, cancer, critical illness, income protection, and scheduled medical reimbursement plans; and protection against long-term health care services. The company was incorporated in 1999 and is based in New York, New York.

Market Data

Market Cap $55.1B

Enterprise Value $78.6B

P/E (TTM) 16.55

Dividend Yield 2.64%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin 6.4%

Company Info

Sector Financial Services

Industry Insurance - Life

Employees 46000

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering MetLife, Inc. at $85.58.

The business passes only 2 of 5 of Graham's defensive criteria — well below his required standard.

At $85.58, the stock trades at a 110% premium to its Graham Number of $40.76. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025
Gross Profit %	N/A•	N/A
Operating Margin %	N/A•	N/A
Net Income %	6.4%▲	3.5%
Diluted EPS	1.74▲	1.17

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$743.2B	$745.2B	N/A
Total Debt	$21.1B▲	$20.2B•	N/A
Working Capital	N/A•	N/A•	N/A
Years to Pay Debt	17.83	24.95	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025
Free Cash Flow	$2.7B▼	$7.1B
Owner Earnings	N/A	N/A
CapEx % of Net Income	N/A	N/A

Income Statement

	2026	2025
Tax Rate For Calcs	0	0
Net Income From Continuing Operation Net Minority Interest	1,185,000	809,000
EBIT	1,772,000	1,380,000
Net Interest Income	-265,000	-263,000
Interest Expense	265,000	263,000
Normalized Income	1,185,000	809,000
Net Income From Continuing And Discontinued Operation	1,185,000	809,000
Total Expenses	17,109,000	22,174,000
Diluted Average Shares	655,700	662,200
Basic Average Shares	652,000	658,100
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders	1,140,000	778,000
Net Income Common Stockholders	1,140,000	778,000
Preferred Stock Dividends	45,000	31,000
Net Income	1,185,000	809,000
Minority Interests	23,000	-7,000
Net Income Including Noncontrolling Interests	1,162,000	816,000
Net Income Continuous Operations	1,162,000	816,000
Tax Provision	345,000	301,000
Pretax Income	1,507,000	1,117,000
Other Income Expense	118,000	521,000
Net Non Operating Interest Income Expense	-265,000	-263,000
Interest Expense Non Operating	265,000	263,000
Other Operating Expenses	223,000	247,000
Selling General And Administration	1,698,000	1,639,000
General And Administrative Expense	1,698,000	1,639,000
Other Gand A	132,000	186,000
Salaries And Wages	1,566,000	1,453,000
Total Revenue	18,616,000	23,291,000
Operating Revenue	18,616,000	23,291,000
Loss Adjustment Expense	11,971,000	16,544,000
Net Policyholder Benefits And Claims	11,971,000	16,544,000
Policyholder Benefits Gross	11,971,000	25,550,000

Balance Sheet

	2026	2025	2024
Treasury Shares Number	550,375	540,253
Preferred Shares Number	64,032	64,032
Ordinary Shares Number	646,025	655,334
Share Issued	1,196,399	1,195,587
Total Debt	21,130,000	20,183,000
Tangible Book Value	17,759,000	18,785,000
Invested Capital	48,454,000	48,575,000
Net Tangible Assets	17,759,000	18,785,000
Capital Lease Obligations		6,000	6,000
Common Stock Equity	27,324,000	28,398,000
Total Capitalization	46,912,000	47,014,000
Total Equity Gross Minority Interest	27,801,000	28,921,000
Minority Interest	477,000	523,000
Stockholders Equity	27,324,000	28,398,000
Gains Losses Not Affecting Retained Earnings	-19,227,000	-18,084,000
Other Equity Adjustments	-19,227,000	-18,084,000
Treasury Stock	31,440,000	30,678,000
Retained Earnings	45,058,000	44,290,000
Additional Paid In Capital	32,921,000	32,858,000
Capital Stock	12,000	12,000
Common Stock	12,000	12,000
Total Liabilities Net Minority Interest	715,410,000	716,245,000
Non Current Deferred Liabilities	382,000	536,000
Non Current Deferred Taxes Liabilities	382,000	536,000
Long Term Debt And Capital Lease Obligation	19,588,000	18,622,000
Long Term Capital Lease Obligation		6,000	6,000
Long Term Debt	19,588,000	18,616,000
Current Debt And Capital Lease Obligation	1,542,000	1,561,000
Current Debt	1,542,000	1,561,000
Other Current Borrowings	404,000	355,000
Current Notes Payable	1,138,000	1,206,000	0
Payables And Accrued Expenses	337,000	356,000
Payables	337,000	356,000
Dividends Payable	337,000	356,000
Total Assets	743,211,000	745,166,000
Investments And Advances	351,992,000	351,201,000
Long Term Equity Investment	15,872,000	16,152,000
Investments In Other Ventures Under Equity Method	15,872,000	16,152,000
Goodwill And Other Intangible Assets	9,565,000	9,613,000
Goodwill	9,565,000	9,613,000
Net PPE	1,586,000	1,698,000
Receivables	51,725,000	50,395,000
Taxes Receivable	1,390,000	1,336,000
Accounts Receivable	50,335,000	49,059,000
Cash Cash Equivalents And Short Term Investments	120,617,000	118,317,000
Other Short Term Investments	97,930,000	96,285,000
Cash And Cash Equivalents	22,687,000	22,032,000

Cash Flow

	2026	2025
Free Cash Flow	2,687,000	7,076,000
Repurchase Of Capital Stock	-755,000	-460,000
Repayment Of Debt	-548,000	-1,138,000
Issuance Of Debt	1,176,000	88,000
Interest Paid Supplemental Data	243,000	287,000
Income Tax Paid Supplemental Data	231,000	326,000
End Cash Position	22,687,000	22,032,000
Beginning Cash Position	22,032,000	20,233,000
Effect Of Exchange Rate Changes	-136,000	7,000
Changes In Cash	791,000	1,792,000
Financing Cash Flow	3,559,000	-998,000
Cash Flow From Continuing Financing Activities	3,559,000	-998,000
Net Other Financing Charges	3,035,000	853,000
Cash Dividends Paid	-417,000	-406,000
Preferred Stock Dividend Paid	-45,000	-31,000
Common Stock Dividend Paid	-372,000	-375,000
Net Common Stock Issuance	-755,000	-460,000
Common Stock Payments	-755,000	-460,000
Net Issuance Payments Of Debt	628,000	-1,050,000
Net Long Term Debt Issuance	628,000	-1,050,000
Long Term Debt Payments	-548,000	-1,138,000
Long Term Debt Issuance	1,176,000	88,000
Investing Cash Flow	-5,455,000	-4,286,000
Cash Flow From Continuing Investing Activities	-5,455,000	-4,286,000
Net Other Investing Changes	-23,000	12,000
Net Investment Purchase And Sale	-6,073,000	-4,439,000
Sale Of Investment	24,147,000	21,984,000
Purchase Of Investment	-30,220,000	-26,423,000
Net Investment Properties Purchase And Sale	-87,000	181,000
Sale Of Investment Properties	128,000	259,000
Purchase Of Investment Properties	-215,000	-78,000
Net Business Purchase And Sale	56,000	-897,000
Sale Of Business	437,000	356,000
Purchase Of Business	-381,000	-1,253,000
Operating Cash Flow	2,687,000	7,076,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarter vs Same Quarter Last Year

YoY strips seasonality

Revenue Growth (YoY)

Prior year: $18.3B ▲ $18.6B +1.8%

Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.

Net Margin

Prior year: 5.2% ▲ 6.4% +1.2pp

Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$18.6B/qtr (≈$74.5B ann.)

vs > $1.5B annualised revenue

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$2.7B

vs Positive

Operating Cash Flow

$2.7B

Latest quarter · Buffett's cash reality check

ROIC

N/A

Based on latest annual operating income

Market Cap / Net Assets

2.0x

Net Assets: $27.8B

Peers & Industry

No auto-detected peers for Insurance - Life. You can manually compare MET against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

16.42%

High — management has strong skin in the game

Return on Equity (ROE)

4.3%

Weak — poor returns on equity

Return on Assets (ROA)

0.2%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$3.9B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+4.7% YoY

Debt is roughly stable

Leadership Team

Michel Abbas Khalaf

CEO, President & Director

Age 61

Pay: $6,471,486

0.546% of net income

John Dennis McCallion CPA

Executive VP, CFO & Head of Investment Management

Age 51

Pay: $3,826,739

0.323% of net income

Ramy Tadros

Regional President of U.S. Business & Head of MetLife Holdings

Age 49

Pay: $3,162,900

0.267% of net income

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	7.99%	51,423,880
Dodge & Cox Inc.	7.94%	51,114,776
Vanguard Capital Management LLC	5.57%	35,856,817
Vanguard Portfolio Management LLC	4.79%	30,813,441
State Street Corporation	3.92%	25,220,389
Price (T.Rowe) Associates Inc	3.54%	22,787,238
Geode Capital Management, LLC	2.06%	13,244,276
Pzena Investment Management LLC	1.76%	11,303,819

Risk Analysis

Beta (Market Risk)

0.78

Low volatility — more stable than the market

Short Interest

2.2% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

1.78x

Moderate leverage

Current Ratio

2.09x

Strong liquidity — Graham approved

52-Week Price Range

Low: $67.33 Current: $85.58 High: $89.62

Currently at 82% of 52-week range